Cut your withholding from 10% to 5% — legitimately.
Clients withhold tax on your professional fees. With a sworn declaration of gross receipts filed early in the year — for income within the BIR threshold — the withholding rate drops from 10% to 5%, leaving more cash in your hands during the year. Medtax prepares and files the declaration and the copies your clients need.
Who this is for
•Doctors whose fees are withheld by hospitals or clinics
•Anyone expecting gross receipts within the BIR threshold